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Sri Lanka’s Browns acquires Lipton tea estates in Kenya, Rwanda and Tanzania
Sri Lanka's Browns Investment Plc has taken over tea estates and factories owned by Lipton Teas and Infusions in Kenya, Rwanda and Tanzania.
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The multibillion-shilling Liptons Teas assets were purchased by European private equity group CVC Capital Partners from Unilever less than three years ago.
The company said a 15 percent stake of the assets acquired by Browns would be reserved for communities in Kericho and Bomet where the estates are situated through a Community Welfare Trust.
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